The American managed cloud computing company Rackspace is planning to go public in 2019. It has been a while that they are planning a Rackspace IPO since March 2018, but they could not finish the preparations. They have started to preparations a year ago, it was originally considered that the company will have the papers ready by the end of 2018, however, no further statements and information were provided on the case of Rackspace IPO strategy.
What may be an interesting fact is that this IT company was previously a publicly traded company until 2016 when Rackspace was made private again by a major acquisition by Apollo Global that topped 4.3 billion dollars.
In the meanwhile, while the company is reportedly getting ready for their initial public offering that is said to be out during 2019, Rackspace reported around 200 layoffs, reporting that the company is profitable and has a favorable growth rate, explaining how the recent layoffs that took place at the beginning of March 2019 are a part of the general rebalancing of their workforce.
What to Expect from the Upcoming Rackspace IPO in 2019?
According to Bloomberg, Rackspace might once again return to the status of a publicly traded company, with IPO valued at around 10 billion dollars, making it one of the top upcoming IPOs that could potentially become available in 2019 according to the company’s representatives.
The company mentioned their plan to go public already in the first quarter of 2018, but for now, the information regarding the share price and the exact date when the IPO should be out is yet to be revealed by the company.
Based on what is known by far on the matter on Rackspace IPO coming out in 2019, the company is more likely to capitalize on Wall Street demand by the end of 2019, expecting the IPO to be out in the latter half of the year.
What is RackSpace?
Rackspace is a global web hosting solutions provider that specializes in managed cloud hosting services. With headquarters in San Antonio, Texas, the company has an impressive global reach, with multiple offices in Europe, Asia, South America, and Australia. Its team of expert consists of over 3,000 cloud engineers with many of them certified by the leading names in hosting and web management such as Microsoft, Cisco, and VMWare.
Pros & Cons of RackSpace
Flexible pricing and plans
Consistent and reliable uptime
Fast and responsive tech support
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